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Report: Deal could be announced Wed.

NEW YORK -- Major League Baseball and its umpires have completed negotiations for a new labor contract and are likely to announce an agreement Wednesday, a person familiar with the talks told The Associated Press.

The sides worked into Tuesday evening to reach the deal. Owners and umpires hope to ratify the agreement next month.

Management has been seeking to gain increased flexibility on postseason assignments as part of the agreement, which could allow umpires to work the World Series in consecutive seasons. Following a series of missed calls during the playoffs, MLB went with an all veteran crew of six umpires in this year's World Series.

This would mark the second straight agreement between the sides reached without acrimony. Recent deals between baseball and its umpires have run for five years.

In September 1999, 22 umpires lost their jobs as part of a failed mass resignation ahead of bargaining. Half of them were eventually rehired.